I went after the scariest looking chart I could find for this special Halloween “chart from Hell” report – lo and behold, one of today’s most active issues by volume and percent gain on the New York Stock Exchange fits the bill to a T: Las Vegas Sands Corp. (NYSE: LVS, Stock Forum). LVS is up 14% today to $11.82, which puts is on track for a weekly gain of close to 90%.
But this is supposed to be the chart from Hell, so what gives? Expand your view of the chart to beyond this week only and the numbers tell a different story. Below is a three-year weekly chart of the owner/operator of integrated casino resorts in both Vegas and the island of Macao, known formally as The People’s Republic of China’s Special Administrative Region of Macao.
If you believe that more and more people will be rolling the dice in the casinos to try and make back what they’ve lost in the stock market over the past few months, then perhaps this one is a treat.
But to get back to its 52-week high of $135, touched one year ago today, the stock would have to gain over 1000%. Now that’s a trick.